Archive auto

Commercial Auto Insurance Purchases – Things To Consider

Purchasing commercial auto insurance is different from buying a personal automobile insurance policy. In addition to insuring yourself against claims of bodily injury and property damage involving third parties, you must also maintain comprehensive and collision coverage to protect your own vehicle against unforeseen damages.

There are several important endorsements you may want to consider while when your purchasing your business auto insurance.

Endorsements to consider before purchasing a commercial auto insurance policy

1.Hired Business Automobile Physical Damage coverage endorsement

This endorsement has a limit per unit or vehicle for the physical damage (comprehensive and collision damage) caused to your commercial vehicle. However, you must be sure to check the limit, generally $50,000, before you rent a high-value automobile. 

2. Non-Owned Business Automobile Liability coverage endorsement

It can be used when you have employees who use their personal vehicles on your company business even if the exposure is so slight that it only entails errands such as picking up mail or buying office supplies. The endorsement does not replace the employee’s liability insurance. Instead, it protects you as the employer if you are named in a claim due to your employees’ negligence. 

3. Employee Hired Auto endorsement 

It requires hired auto coverage for both liability and physical damage coverage to be enforced. This endorsement is to be used when employees hire vehicles in their own name rather than the company’s name and use it for business purposes according to the directions of their employer. The effect of this endorsement is to make coverage for these autos primary rather than excess. 

4. Rental Reimbursement endorsement

It includes the loss of use of the rental vehicle by the car rental company. The cost per day to rent a vehicle is provided in the commercial vehicle insurance policy. However, if the rented unit is damaged or destroyed in your care, custody, or control you can be held liable for the loss incurred by the rental car company for the time the vehicle was not in use due to repairs or replacement of the unit. 

5. Auto Loan Physical Damage Extension 

This is an endorsement that provides coverage for the difference between the actual cash value of the damaged commercial vehicle and the loan balance of the unit. Auto Lease Gap Coverage applies when the vehicle is leased rather than purchased.

Archive homeowners

Homeowners Insurance Policy Coverage – All You Need to Know

At EZ Insurance, we  offer you quality homeowners insurance policy that will cover your home and other detached structures on your property. Detached structures , such as garages and pools are generally insured for  10% of the coverage limit  you have on your dwelling. However, this limit can be increased. 

You can insure your home replacement cost basis against fire and other extensive damages caused by smoke and water. Our homeowners insurance coverage will also protect your home and its content  against damage  caused by windstorm, theft, vehicle damage caused by a non-owned vehicle, explosion, civil commotion, and riot.  

The policy will include coverage for the contents of your home. This amount can extend up to 70% of the coverage limit you maintain on your dwelling.

When a covered loss occurs you might not be able to live in your home. Depending on the damage this could be a short-term or a long-term situation. Your West Hollywood homeowners’ insurance policy will pay for your increased cost of living expenses for temporary housing while your home is being repaired or rebuilt. This section of your policy is referred to as Additional Living Expense coverage.

A deductible applies to all of the above Section I coverages. Discuss with your agent how a higher deductible might help cut down your premium. 

Home ownership is a major responsibility. Section II of your homeowner’s insurance policy provides coverage against third-party liability for bodily injury or property damage. Your homeowners ‘ insurance policy protects you if any person is hurt while on your property. It also protects you against property damage that you or your family members are liable for. Your deductible does not apply to this section of your Homeowners insurance coverage.  

It is easy to place a value on your tangible real and personal property. However, it is not easy to forecast how much a liability claim can cost you as the cost of defending such claims can change. Hence, it is  advisable to always carry enough liability insurance to protect your home and its contents.


Personal Liability Insurance – What It Is and What It Covers

Comprehensive Personal Liability insurance offers financial protection to you and your family against claims of  Bodily Injury and Property Damage for which you can be held legally liable. This protection can either be part of your standard Homeowners insurance policy or purchased as a separate policy. 

Some examples of personal liabilities include:

  • Slip and fall injuries incurred by a third party while on your property
  • Accidental damage to someone else’s property caused by you or a family member
  • A tree standing within your premises falls on a neighbor’s house
  • Your son’s baseball breaks a neighbor’s window. 

Claims brought against you as a result of your pet ownership such as a dog bite will also be covered. However, you must make sure that your dog’s breed is not on a prohibited breed list. Your personal liability insurance policy will specifically exclude injury caused by certain breeds of dogs. 

The policy will pay for claimants’ medical expenses and lost wages. It will also pay for your legal costs should a lawsuit occur and you require the services of an attorney to defend you. 

Your Homeowners or Renters insurance policy will include Personal Liability coverage. The limit can be as low as $100,000 or as high as $500,000. 

If you have high worth assets, you will want to consider the purchase of a Personal Umbrella  Liability policy. This policy provides additional protection over and above your primary limit of liability. Insurance under this policy is purchased in increments of $1,000,000 and is very affordable.